In this article, we discuss the 5 stocks receiving price-target cut from analysts. If you want to see more such stocks on the list, go directly to Analysts Just Trimmed Price Targets for These 10 Stocks.
05. Enphase Energy, Inc. (NASDAQ:ENPH)
Price Reaction after the Price Target Cut: -4.74 (-3.71%)
On September 6, Morgan Stanley adjusted its target for Enphase Energy, Inc. (NASDAQ:ENPH). The previous target of $234.00 has been lowered to $159.00, reflecting a decrease of approximately 3.7%. Alongside this target adjustment, the analyst has maintained the stock’s rating at “Equal Weight.” This update from Morgan Stanley suggests a shift in their outlook for Enphase Energy, Inc. (NASDAQ:ENPH), potentially influenced by factors such as the company’s performance, industry dynamics, or broader market conditions. While the new target still implies a potential upside from the current market price of $123.03, the reduction in the target price indicates a more conservative view compared to the previous assessment.
Here is what Carillon Eagle Mid Cap Growth Fund has to say about Enphase Energy, Inc. (NASDAQ:ENPH) in its Q2 2023 investor letter:
“Enphase Energy provides solar microinverters and energy storage solutions. The company’s shares lagged benchmark counterparts amid concerns surrounding a near-term moderation in the growth of residential solar installation in the United States. Despite this, the company possesses a market-leading position in its core microinverter product and remains wellpositioned over the long term to benefit from ongoing solar adoption trends. Additionally, Enphase is focused on growing its international presence while also unveiling new products that could provide the next tailwind to its growth story.”
04. Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN)
Price Reaction after the Price Target Cut: -0.68 (-4.20%)
On September 6, Morgan Stanley adjusted its target for Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN). The previous target of $30.00 has been reduced to $22.00, indicating a decrease of approximately 4.2%. Furthermore, the analyst has maintained the stock’s rating at “Equal Weight.” This update from Morgan Stanley reflects a change in their outlook for Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN), potentially influenced by various factors, including the company’s performance, industry trends, or broader market conditions. While the new target still implies some potential upside from the current market price of $15.50, the lower target price suggests a more cautious stance than the previous assessment. Investors may want to consider this information when considering their investment decisions.
03. Sigma Lithium Corporation (NASDAQ:SGML)
Price Reaction after the Price Target Cut: -1.68 (-4.85%)
On September 6, BMO Capital Markets adjusted its target for Sigma Lithium Corporation (NASDAQ:SGML). The previous target of $50.00 has been slightly lowered to $48.00, indicating a decrease of approximately 4.9%. Despite this adjustment, the analyst has maintained the stock’s rating at “Outperform.” This update from BMO Capital Markets suggests a minor shift in their outlook for Sigma Lithium Corporation (NASDAQ:SGML), potentially influenced by various factors, including the company’s performance, industry dynamics, or broader market conditions. While the new target still suggests a potential upside from the current market price of $32.93, the slight reduction in the target price indicates a slightly more tempered view compared to the previous assessment. Investors may want to consider this information in their evaluation of the stock.
02. Asana, Inc. (NYSE:ASAN)
Price Reaction after the Price Target Cut: -2.85 (-13.17%)
On September 6, Morgan Stanley made a target adjustment for Asana, Inc. (NYSE:ASAN). The previous target of $24.00 has been revised down to $23.00, representing a decrease of approximately 4.2%. Additionally, the analyst has maintained the stock’s rating at “Equal Weight.” This update from Morgan Stanley indicates a slight shift in their outlook for Asana, Inc. (NYSE:ASAN). While the new target still suggests some potential upside from the current market price of $18.79, the lower target price reflects a slightly more cautious stance than the previous assessment.
Diamond Hill Capital made the following comment about Asana, Inc. (NYSE:ASAN) in its Q3 2022 investor letter:
“Work management software company Asana, Inc. (NYSE:ASAN) has, in our view, a relatively undifferentiated and discretionary software product within a software category that will likely be meaningfully smaller than anticipated. Additionally, Asana’s operating losses continue to widen as its revenues have begun decelerating.”
01. Overstock.com, Inc. (NASDAQ:OSTK)
Price Reaction after the Price Target Cut: -6.44 (-23.48%)
DA Davidson has lowered its target for Overstock.com, Inc. (NASDAQ:OSTK). The previous target of $87.00 has been adjusted downward to $85.00, reflecting a decrease of approximately 2.3%. This target adjustment has been met with a market reaction, with the stock price declining by approximately 23.5% in response to the revised target. The significant drop in the stock price indicates that investors have reacted negatively to the lowered target by DA Davidson. This reaction may be influenced by concerns about the company’s future performance, industry dynamics, or broader market sentiment. The new target of $85.00 suggests a slightly more cautious outlook than the previous assessment, but it still implies some potential upside from the current market price of $20.99.
Bireme Capital made the following comment about Overstock.com, Inc. (NASDAQ:OSTK) in its Q4 2022 investor letter:
“Overstock.com, Inc. (NASDAQ:OSTK) was down 21% in Q4, as investors have finally realized that the company’s bitcoin-trading pivot was a farce and they are left with a COVID-era “winner” that faces major headwinds as the pandemic subsides. Current Street estimates predict a -28% sales decline for 2022, EBITDA margins of just 3%, and essentially zero net profit. Arguably Overstock’s largest asset is the cash on its balance sheet, rather than its marginally profitable, zero-growth namesake eCommerce site.”
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